RUBIS_REGISTRATION_DOCUMENT_2017
FINANCIAL STATEMENTS 9
2017 consolidated financial statements and notes
4.10 FINANCIAL LIABILITIES
ACCOUNTING POLICIES Financial liabilities are recognized and measured in accordance with IAS 39 “Financial instruments: recognition and measurement”. Financial liabilities are recognized in the Group balance sheet when the Group is a party to the instrument’s contractual provisions. IAS 39 distinguishes 2 categories of financial liabilities, each subject to specific accounting treatment: • financial liabilities valued at amortized cost: these mainly include trade payables and borrowings applying the effective interest rate method, if applicable; • financial liabilities valued at fair value through profit and loss, which only represent a very limited number of scenarios for theGroup and
do not have a significant impact on the financial statements. Measurement and recognition of derivative instruments The accounting policies used to measure and recognize derivative instruments are set out in note 4.5.
Value on balance sheet
Fair value
Breakdown of financial liabilities by class (IFRS 7) and by category (IAS 39) (in thousands of euros)
12/31/2016
12/31/2016
12/31/2017
12/31/2017
FINANCIAL LIABILITIES AT FAIR VALUE
3,249 3,249
4,597 4,597
3,249 3,249
4,597 4,597
Derivative instruments
FINANCIAL LIABILITIES AT AMORTIZED COST
2,085,202 1,466,241
1,508,502 1,020,740
2,085,202 1,466,241
1,508,502 1,020,740
Borrowings and financial debt
Deposit/consignment
103,991
102,967
103,991
102,967
Other non-current liabilities Trade and other payables
3,461
3,847
3,461
3,847
457,873 17,424 36,212 45,689
355,243
457,873 17,424 36,212 45,689
355,243
Current tax liabilities Other current liabilities
7,343
7,343
18,362 40,598
18,362 40,598
BANKS
FINANCIAL LIABILITIES
2,134,140
1,553,697
2,134,140
1,553,697
The fair value of derivative instruments is determined using valuation models based on observable data (level 2). 4.10.1 Financial debt Financial debt is presented in the following table, which differentiates between non-current and current liabilities:
Current (in thousands of euros)
12/31/2016
12/31/2017
Credit institution loans
228,750
219,704
Interest accrued not yet due on loans and bank overdrafts
3,281
1,893
Bank overdrafts
45,310
40,189
Other loans and similar liabilities
337
678
TOTAL BORROWINGS AND SHORT-TERM BANK BORROWINGS (PORTION DUE IN LESS THAN ONE YEAR)
277,678
262,464
Non-current (in thousands of euros)
12/31/2016
12/31/2017
Credit institution loans
1,217,188
782,463 19,730 83,237 16,411 901,841
Customer deposits on tanks Customer deposits on cylinders Other loans and similar liabilities
19,263 84,728 17,064
TOTAL 2017 Registration Document I RUBIS 210
TOTAL BORROWINGS AND FINANCIAL DEBT
1,338,243 1,615,921
1,164,305
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